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  • Profile photo of ian_from_brisbaneian_from_brisbane
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    January 5, 2005 - 12:37 pm

    Even if you sold it at a profit now (and the profit would be tiny after expenses), do you think it would be worth it after all the research/hassle of buying it in the first place? I’d say hang on to it for at least another 9 years, 4 months :)

    Profile photo of ian_from_brisbaneian_from_brisbane
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    November 10, 2004 - 2:12 am

    Hi,

    One of my major life goals is to take a holiday in space for one or two weeks. Needless to say this will be expensive, even if the cost does come down in the decades to come. I figure by the time I’m ready it may cost me about $5 million but that’s just a guess. So this is one of my main motivators for creating wealth.

    After I’ve taken care of that huge expenditure, I would like to have about 10-15k / week (indexed) to play with for the rest of my life. So I guess that will mean about $20 million net worth. I don’t know how many houses I’ll need for that but I’d say it’d be quite a few.

    Hey Pete, I hope you don’t mind if I steal your phrase “free by 33”. I’m 26.3 at the moment and that time frame suits me very well :)

    Anyway, I’m still only on property #1 at the moment and body corporates are so much fun. Little bit of sarcasm there.

    Cheers,
    Ian

    Profile photo of ian_from_brisbaneian_from_brisbane
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    July 7, 2004 - 9:52 pm

    Thanks everyone, those are great replies!

    And I think condos are a bit like buying ‘shares’ in a company (the block of units), then the number of shares you buy entitles you to live in one of the units.

    I could be way off tho, I’m from Brisbane not New York.

    Profile photo of ian_from_brisbaneian_from_brisbane
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    February 6, 2004 - 4:29 am

    Yeah, I’d go if I lived in Melbourne… for $990 (off the internet) that’s a great price.

    Profile photo of ian_from_brisbaneian_from_brisbane
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    February 6, 2004 - 4:17 am
    Originally posted by Julia:

    Ian,
    I am a Qld accountant but on Bribie Island Rd. If you send me your e-mail address I will send you my free rental property booklet.

    [email protected]

    Hi Julia, I tried to email you at that address a few days ago but it bounced. I will try again.

    Profile photo of ian_from_brisbaneian_from_brisbane
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    February 5, 2004 - 9:47 am

    No… the ‘correct’ way (really there is no right/wrong) would be to keep looking. Throwing more capital at a property will just give you a lousy CoCR anyway.

    Profile photo of ian_from_brisbaneian_from_brisbane
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    January 15, 2004 - 3:59 am
    I know Sydney had a downturn in 1989-90 where across the board a drop in housing prices of around 13% occurred but this was on the back of a 40%+ rise the year before.

    I think it was also the result of high interest rates.

    Profile photo of ian_from_brisbaneian_from_brisbane
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    January 15, 2004 - 3:45 am

    The cost of various types of insurance compared to other suburbs can also be an indicator of the crime rate.

    Are there any vacant shops in the area by the way?

    -Ian

    Profile photo of ian_from_brisbaneian_from_brisbane
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    January 12, 2004 - 3:07 pm
    With commercial it’s very different. There also aren’t many books on the topic.

    I recommend this great book to anyone that hasn’t read it yet:

    “How Investing in Commercial Property Really Works” by Martin Roth

    Profile photo of ian_from_brisbaneian_from_brisbane
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    January 4, 2004 - 7:03 am

    I got the 7000 immediately, and there was no mention of a minimum occupation time (only that I had to move in within a year).

    Profile photo of ian_from_brisbaneian_from_brisbane
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    January 4, 2004 - 6:51 am

    quote:

    DON’T

    Why not?! The best property I’ve ever purchased was one that I bought unseen :)

    …of course, I’ve only ever bought one property.

    Profile photo of ian_from_brisbaneian_from_brisbane
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    January 4, 2004 - 6:44 am

    Hi Ken!

    Regarding what Julian said… I think you’ll find that a great many Australian-born Australians don’t even know where most towns are. I am 25 years old, and until recently had no ‘feel’ for where towns were (apart from major cities and the biggest towns).

    Anyway, a few weeks ago I went out and bought myself a giant (and very detailed) wall map of Australia and enjoy staring at it for hours at a time.

    Since discovering how fun and educational that is to have on my wall, I’ve gone out and bought many more maps of regional areas such as Townsville, Cairns, Rockhampton, Newcastle etc. and now the entrance way to my house is covered in street maps from all up and down the east coast, and I never get tired of looking at them :)

    -Ian

    Profile photo of ian_from_brisbaneian_from_brisbane
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    January 4, 2004 - 6:35 am

    Yeah, those ‘evil’ wrappers are helping people own their first home.

    Profile photo of ian_from_brisbaneian_from_brisbane
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    December 31, 2003 - 6:26 am

    I’m not exactly cash-strapped, I just don’t have $20k :) More like 4.

    Profile photo of ian_from_brisbaneian_from_brisbane
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    December 30, 2003 - 9:52 am

    Yeah it would be interesting to see where your money’s going… I have a friend who works at City Beach and he says clothes/shoes/everything gets marked up about 200-250% there.

    Profile photo of ian_from_brisbaneian_from_brisbane
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    December 30, 2003 - 8:55 am

    quote:

    Well done on your bartering.

    Hehe thanks, I think you mean bargaining… you make it sound like I swapped them a sack of potatoes for a fridge :)

    I’ve still never been to the good guys yet, but everyone I know who has been there tells me they should have been called the worst guys. But I guess they’re making the comparison at a time when everyone is having a sale.

    …back to the air conditioner… I found a suitable Samsung 2.4 HP at Hardly Normal today for $1599 + $550 installation (minus about $200 “ian” levy hehe). Oh yeah, you can’t bargain with them when doing an interest free deal either, you must pay retail price (not even the sale price on the tag, but full retail which is about $400 more at the moment).

    Well, thanks everyone. I’ve decided that I will pay cash for the air conditioner (much cheaper), then wait till I’ve improved a few things before thinking about refinancing.

    Profile photo of ian_from_brisbaneian_from_brisbane
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    December 30, 2003 - 5:39 am

    Thanks redwing, I will check out an interest free deal as I would have no problem fronting up with the money in two years time.

    Speaking of Harvey Norman, I spent 40 mins negotiating a $1000 fridge down to $810 at Harvey Norman in the Boxing day sales <- proud of myself, had to tell someone! (at the same time, I saw a girl pay $948 for a fridge that said $948 on it and I cringed, knowing she could have got it for say $780 if only she tried).

    Profile photo of ian_from_brisbaneian_from_brisbane
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    December 29, 2003 - 4:04 am

    Thanks everyone for your input!

    A couple of points: I’m not planning on living in this place for 30 years and so will sooner or later be a rental property.

    Also, I had a valuer in a few days ago and told him about everything I wanted to do to the place, spending about $20,000 on it and he suggested that after those improvements, the place would be worth $170-180,000. The only problem is I can’t find the $20k :)

    So I thought I’d do a bit at a time and in the meantime, enjoy the benefits of living in airconditioning :) I know it would end up costing me a lot more in bank fees this way, but I can’t see any other way to get to the point of my place being worth $170k :)

    I guess what I need is a short-term $20k loan, but I have an expensive car loan to pay off (I bought that thing before I learnt about money), so I don’t like my chances of securing renovation finance.

    Profile photo of ian_from_brisbaneian_from_brisbane
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    December 7, 2003 - 9:51 am

    Hi! I’d be very interested in meeting investors in the Brissy area… Please email me more info!

    <- my login name @hotmail.com

    Profile photo of ian_from_brisbaneian_from_brisbane
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    December 4, 2003 - 3:50 pm

    The thing that makes me suspicious about Uni Lodge is the same thing that makes me suspicious about “Cathedral Place” in The Valley… in any given week there are 1-3 units being sold there.

    I’d bet if you go to realestate.com.au at any hour of any day there will be at least one Uni Lodge unit for sale and at least one Cathedral Place unit [:)]

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